457b

Treasury Issues Final Regulations to Facilitate Use of Longevity Annuity Contracts within Retirement Accounts

Topics: 457b, Annuities, IRAs, Life insurance products, Qualified Plans, Retirement security, Tax treatment

In announcing the release of final regulations (“final regulations”) which are intended to increase the attractiveness and practicality of utilizing a particular type of deferred annuity—called a QLAC (“qualifying longevity annuity contract”)—within retirement accounts to avoid exhausting retirement savings, Mark Iwry, the Treasury’s deputy assistant secretary for retirement and health policy stressed: As boomers approach…